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the macroeconomic factors influencing liquidity.

Economic and political conditions in the country. Stability of general political and economic conditions in the country has direct influence on stability of a banking system as a whole and a bank of commerce as its link in particular. In many respects it defines trust degree to banks from the population, and also degree "politizirovannosti" a banking system. Any display of instability in the given spheres leads to a sharp aggravation of a problem of liquidity of banks of commerce. Efficiency of state regulation and the control. Banks of commerce test on themselves all spectrum of influences of the state measures of monetary - credit regulation. It is shown in an establishment of rules of law, reguli-rujushchih bank activity as a whole, and also in an establishment of obligatory specifications for performance and sanctions for their infringement. Central banks of the countries with market economy regulate solvency of banks of commerce by means of an establishment of restrictions on their activity. Direct influence on liquidity and solvency render, in particular, following moments: restriktsionnaja a policy of the Central Bank (rate increase of refinancing by the Central Bank, change of norms of obligatory reservation, the minimum size of a shareholder's interest, have an establishment of obligatory economic specifications direct influence on structure and efficiency of active and passive operations of banks); The fiscal policy of the state (establishments of taxes, the indirect and which direct payer is the bank, affects its liquidity and pla-tezhesposobnost); Central Bank operations in the open market with the state securities and a foreign currency essentially influence interest rates, exchange rates, etc. Besides, the readiness and effectiveness of spent economic policy, validity of the established specifications and efficiency have great value Influence measures on banks-infringers. State regulation and the control should stimulate banks to maintenance of sufficient level of liquidity as one of primary factors in poderzhanii stability as banking system, and all economy. Development and efficiency of segments of the financial market. This factor causes character of redistribution of temporarily free money resources between participants of the financial market and, in particular, between banks. So, the high level of development of the market gives the chance to banks of fast call for funds with a view of liquidity maintenance, and the stable market tone provides possibility of fast realisation of securities if necessary. The given factor has appreciable influence on degree of liquidity of assets as a necessary condition of liquidity of assets is the developed market for their realisation. Possibility of attraction of support from the state. It is shown through a spent monetary and credit policy of the government and the Central Bank, for example, in possibility of reception of government credits from Central Bank resources. At the development present stage macroeconomic factors define the general instability of a banking system of Russia, having strong negative influence on financial stability of banks of commerce, and, in particular, on their liquidity. Let's pass now to consideration of the factors operating at microlevel, i.e. At level of the bank (fig. 8.4 see).

a Fig. 8.4. The Microbusiness factors influencing liquidity of bank.

a Fig. 8.4. The Microbusiness factors influencing liquidity of bank.

Sufficiency of a shareholder's interest of bank. The considerable size of a capital base of bank positively affects level of its liquidity, as a shareholder's interest: carries out a role of the shock-absorber in case of occurrence of the unforeseen circumstances, able to entail withdrawal of means, and, as consequence, to cause liquidity or solvency crisis. The given indicator has huge value for normal functioning of bank, therefore its is minimum admissible size is regulated legislatively (the Instruction of the Central Bank of the Russian Federation, 1, Basel agreements in the western countries). Quality and stability of resource base of bank. As is known, the resource base is the defining factor for volume and degree of development of active operations of bank, and, hence, its stability influences a financial soundness and liquidity of bank. It is necessary for bank staff to carry out the constant control over these indicators, to carry out the structural analysis of passives on purpose under-derzhanija optimum values for the means involved on an urgent basis as they help bank to support equation between assets and liabilities on terms and the sums so, and liquidity of bank. Degree of dependence on external sources of loan. The such dependence is more strongly expressed at bank, the there can be problems in case of occurrence even time insolvency more seriously. So, the crisis of the interbanking market which has developed in August, 1995, has shown degree of instability of bank structures at occurrence of crisis situations when even small on volumes non-returns of means have put some banks on a survival side. Force of influence of the given factor directly depends on a stock of financial durability of bank, and also from the policy spent by bank. Equation of assets and liabilities on the sums and terms.
The given factor has basic value in the course of maintenance of liquidity of bank in particular and its financial soundness as a whole. Such equation practically excludes possibility of occurrence of crisis of liquidity and solvency in bank as liabilities of bank will be provided by available resources, and the coordination of assets and liabilities on terms will provide timely settlement of commitment without unprofitable realisation of assets. The above this coordination, the sbalansirovannee the policy spent by bank, above its liquidity, ustojchivee financial circumstances. Riskiness of assets of bank means probability of potential losses at realisation of assets or risk of a non-return of the means enclosed by bank. Riskiness of assets depends on many factors of an internal and external order, such, as: bank strategy at placing of means, structure and quality of its advances portfolio, activity of investment in securities, quality of the spent financial analysis, a condition of real sector of economy, public finances, etc. So, a credit risk as one of components of risk of active operations, represents in the conditions of non-payments and the general economic crisis the extremely serious problem for the Russian banks in this connection the special attention should be given to credit rating and a financial position of borrowers. As a whole the above the risk of active operations of bank, the is more probability of occurrence of losses at transformation of assets in money resources, and it, in turn, will negatively affect and its liquidity. Profitableness of assets of bank. This factor renders raznonapravlennoe influence on liquidity. On the one hand, than more share of working assets in the bank balance sheet and the above their efficiency, profitableness, the ustojchivee financial consisting - nie bank. On the other hand, profitableness growth is almost always interfaced to risk increase in this connection requirements to liquidity raise. 8. Structure and asset diversification. In managerial process by liquidity it is necessary to give special attention to structure of assets. For example, for realisation it is settlement-cash services clients, return of means from on-demand accounts it is necessary for bank to have a certain stock vysokolikvidnyh assets. Considering their low or zero profitableness, the bank should support a share of these assets on mi-nimalno possible level, sufficient, however, to remain solvent and liquid. Asset diversification, i.e. Their placing in various directions, has positive influence on liquidity level as in this case about risk of assets decreases. However it is impossible to suppose and excessive diversifikatsii - it can lead to uncontrollability of a portfolio of assets, growth of the organizational costs connected with management by it, and, as consequence, to losses. At asset diversification it is necessary to consider influence of such factor, as a financial soundness of bank customers and banks-partners for it substantially influences stability of a financial position of bank, prospects of its development, and, thereby, on its reliability and liquidity. To avoid the losses caused, for example, by a non-return of credits or necessity to bear responsibility under guarantee certificates for insolvent clients, it is necessary for bank to trace changes in clientele financial circumstances, to study requirements and a financial position of potential clients, and also to aspire to reception of as much as possible authentic and all-round information on the partners. It is necessary to notice, however, that liquidity of bank is influenced also by other factors, for example, volume, structure and performance terms zabalansovyh operations. At an estimation of liquidity on the basis of balance data the analysis of this factor allows to consider influence zabalansovyh operations and by that with bolshej reliability to define an actual condition of bank. However, thus analytical conclusions have character of the forecast as responsibility under the liabilities of bank reflected behind balance, not always can come. Nevertheless such analysis has great value, and underestimation of corresponding obligations can lead to decrease in liquidity or even to nelikvidnosti bank. The similar situation can be generated, for example, excessive activity of bank in delivery of guarantees. So, we have considered the factors influencing liquidity of bank. However not only they define liquidity of bank. Liquidity of a bank of commerce is based on constant maintenance by means of operational management of objectively necessary parity between three components: a shareholder's interest of bank and borrowed funds, on the one hand, and the placed means - with another. Realisation of this purpose assumes the analysis, the control and bank asset-liability management. We will pass to consideration of a following analysis stage of face-visibility.
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the macroeconomic factors influencing liquidity.

  1. a stage. The analysis of the factors influencing liquidity
    On liquidity and capacity of a bank to meet its liabilities, as well as on its activity as a whole, the large quantity of factors raznonapravlennogo actions influences. Therefore at revealing of developing negative tendencies in the field of liquidity it is necessary for financial analysts of bank to reveal the major factors which have caused these tendencies, to analyse their influence and to
  2. 50. Concept of the factors influencing on classification. Internal and external factors of competitiveness of the enterprise
    competitiveness Factors are those phenomena and processes is industrial-economic activities the enterprise and a social and economic life of company which cause change of absolute and relative size of expenses for production in summary change of level of competitiveness of the enterprise. Factors can change competitiveness of the enterprise towards increase and towards reduction. To
  3. 5. The problems, influencing factors Influence of external factors
    Now barriers to enter into a market LKM of the new enterprises are not high. Therefore to compete in a low price market segment difficult enough. For Open Company the share of production of a low price segment makes 60 %. The basic competitors "the Yaroslavl paints", "Teks" (PF enamels), "Scale", "Paints BEP" (spetsmaterialy) have the capacities and scientific base. It is possible to note
  4. 5. The problems, influencing factors Influence of external factors
    Corporation development is influenced by competitors. Now the basic competitors of Corporation are basically distribjutorskie the firms specialising on a certain kind of the goods. Among them it is possible to note following firms: "Telko" (Moscow). Distributors (similar grocery groups); "Versatile person" (Moscow). Distributors (similar grocery groups); "Samsung" in Russia. Acts as the
  5. an estimation of the factors influencing strategy of bank
    For an estimation of the factors influencing strategy of bank, it is necessary to reveal such factors and to analyse their effect. On fig. 8 the sequence in which the bank environment is studied is shown. {foto7} a Fig. 8. Algorithm of research of an environment of bank In the course of the analysis of an environment of bank ry-night possibilities and the risks which are taking place under
  6. 3.1. The analysis of fundamental factors 3.1.1. The fundamental factors influencing a rate of exchange
    Fundamental factors — key macroeconomic indicators of a condition of the national economy, acting in intermediate term prospect. They influence participants of the currency market and an exchange rate level. Agency "Рейтер" publishes the forecast of the basic economic indicators of the developed countries: ЕС/1. Usually it is data of the macroeconomic statistics, published by national
  7. 1. Macroeconomic factors.
    the Macroeconomic factor of quality of services SEO expresses a parity of economic resources available in a society with that share of means which is used by the state by introduction of obligatory insurance with a view of redistribution of incomes of the population on groups of social risk. The general criteria which would estimate level of necessary expenses for manufacture of services SEO, in
  8. 2.1. The factors influencing property value
    It is possible to allocate four factors influencing cost it is
  9. Macroeconomic factors of inflation.
    At first we will find out those stable environments of monetary circulation on the scale of the national economy which infringements cause inflation. Stability of monetary circulation means equality of two macroeconomic streams which form so to say "blood circulation" of a national economy: a commodity flow and services of inflow of money. Such equality the American economist has accurately
  10. 1.1. The factors influencing organizational behaviour
    Macroeconomic factors Economic situation in the country, region Organisation geographical position Standard of living in region The external economic contacts The organisation status in the market Expectations of associates Microbusiness factors Profile and kind of activity of the organisation Level of a financial condition of the person The person of the first chief (holder) Real situation
  11. Macroeconomic factors
    have objective character, and the bank should adapt for them the borrowing policy as much as possible. Undoubtedly, general economic situation in the country, in real sector of economy makes defining impact and on all financially-banking system. Moreover, it defines also directions state monetary and credit and fi-nansovoj politicians. The anti-inflationary policy of the Central Bank including
  12. 5.1 Factors influencing industrial structure
    the Factors influencing formation of industrial structure of the enterprise, it is possible to divide into some groups. Obshchestrukturnye (economic) factors define integrated approach and completeness of structure of the enterprise. The structure of branches of an economy, a parity concern their number between them, degree of their differentiation, prospective growth rates of productivity,
  13. 3.3. The factors influencing cost of the real estate
    the Factors influencing cost of the real estate. Table 3.2 Group the Characteristic of factors Factors Physical Characteristics of a site - a climate, resources, topography, grunty, soil; In relation to a business centre, places of the appendix of work, inhabited territories, motor transport, coast, green files etc. Characteristics ground learning-stka to the sizes, the form, the area,
  14. 7.1. The factors influencing pricing
    All major factors influencing pricing, are grouped as follows. The factors operated firm: Goods life cycle; Portfolio of the goods (services); Segmentation and positioning of the goods (services); Use of trade marks. The factors operated the consumer: Requirements; Benefits; Utility; Distribution channels. Market factors: Competition; Environment. Product life cycle usually is not a useful
  15. 10.6.1. The factors influencing motivation of consumers
    On fig. 10.1 and 10.2 results of the analysis of the factors influencing motivation of consumers, accordingly in Beijing and Shanghai are represented received by a method JUICE. Each of drawings includes as the general JUICE-CARD, and the componental planes showing individual factors of influence on consumer motivation. On sheathe JUICE excellent from each other klasterov — a little big (for
  16. Research of the factors influencing labour productivity.
    transition of economy of Russia to market relations and increase of its konkurento-ability assume realisation of measures on labour productivity growth. It is known, that changes in labour productivity come as a result of cumulative effect of all groups of factors, thus during each given moment there are priority factors. Complex character of reserves of growth of labour productivity assumes
  17. the Factors influencing controllability of the organisation
    First of all, to the factors influencing degree of controllability of the organisation it is possible to carry the person of the manager, to be exact conformity of the management style peculiar to the manager, type of organizational culture. We understand the form of perception as a management style subordinates of all of that proceeds from the manager, - commands, orders, instructions,
  18. 1 Factors influencing volume of the offer of the goods
    level of the costs of carry connected with production and export The goods; Scientific and technical progress; Degree of monopolisation of the offer of the goods; The price policy of exporters of the goods. . The factors influencing volume of demand: utility of the goods; scientific and technical progress; financial possibilities of buyers of the goods; change of the prices of other goods; degree
  19. the Factors influencing size of profit
    can be divided as though on two groups. In the first group carry so-called major factors which directly influence volume of profit of trade enterprise. Them concern: Profit (loss) on realisation of the goods. Profit (loss) on uncommercial activity of the enterprise. Balance of incomes and costs on non-trade operations. Profit (loss) on realisation of the basic industrial means. To the second
  20. the Factors influencing factors
    Except internal operating conditions on enterprise factors the general enterprise conditions, items of branch, the politician of administration, and also accounting principles influence. Influence last on the indicators used at account of factors, is considered in the second part of the book. Weak places of registration model also influence suitability of factors. So, the estimation on sebesto -
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